We go race by race through the Keeneland late Pick 5. Race 6 is a maiden race full of first-time starters, so it's a leg to spread or pass, and we talk about whether tote action and will-pays can help you there. In the Perryville Stakes (Race 7), Deep Flame looks like a clear single. We also ask whether pace pressure could beat him, and how to bet a heavy favorite in exotics. Race 8 is a turf allowance where we narrow the field to a strong trio, find the value horse and cover vertical-bet tactics. In the Raven Run (Race 9), we decide between trusting the four solid favorites and going for prices, and how to build the ticket without spreading too wide. Race 10 is another turf allowance, and we doubt the favorite and push Paris Twilight as the upset key. We finish with Pick 5 bankroll discipline and closing thoughts on value.